House representatives strive to give better stability to cryptocurrencies
A new initiative called the “Congressional Crypto Caucus” has been introduced by US Representatives Ritchie Torres and Tom Emmer. The goal of the caucus is to advance crypto-friendly policies in the House of Representatives. Torres shared the announcement on his X account yesterday. The caucus is seen as a response to growing interest in digital assets and aims to mobilize support for key legislation on stablecoins and market structures, including bills currently under review in the House.
Excited to announce that today, @GOPMajorityWhip and I are launching the Congressional Crypto Caucus.
We hope to build a unified, bipartisan coalition to cement America’s leadership in the future of digital assets and blockchain innovation. https://t.co/qCjSt8PiQD
— Rep. Ritchie Torres (@RepRitchie) March 3, 2025
This new caucus comes on the heels of the “Congressional Blockchain Caucus,” which was formed during the Obama era to explore blockchain technology. While the Blockchain Caucus focused more on understanding the technology itself, the Crypto Caucus will have a more direct role in advancing policy decisions related to digital assets. It is expected to serve as a voting bloc, pushing for laws that support the development and regulation of the crypto market.
One of the main legislative efforts under consideration is a draft bill that would regulate dollar-based stablecoins in the US. This bill, introduced by Representatives French Hill and Bryan Steil in February, seeks to create a regulatory framework for stablecoins. Another market structure bill, a strengthened version of the bipartisan FIT21 bill passed in 2024, may also be introduced soon.
Both Torres and Emmer are long-time supporters of the crypto industry. Torres has previously advocated for regulatory frameworks like the FIT21, which aims to protect consumers and position the US as a global leader in digital finance. Emmer, who is the vice chairman of the Digital Assets Subcommittee, has been outspoken about the need for American-led policies on crypto, especially under the current political landscape.
The launch of the Crypto Caucus coincides with other developments in Washington, including President Trump’s recent announcement to include several cryptocurrencies like Bitcoin, Ether, and Cardano in the US strategic crypto reserve, signaling further momentum for digital assets in the government.
